Max mortgage payments

geeka

Hello, i'm an ex debt free wannabie now coming over to this forum. I'm wanting some advice as I can afford to pay alot more off my mortgage now but i'm worried in case the mortgage company might flag up as being dodgy. By overpaying I can clear it in 5 years instead of 18. My monthly mortgage is around £500 but I can afford to pay an extra £800 a month, it'll be tight but I can do it as ive lived to a tight budget for 7 years. do they actually care (i am with nram so there is no early repayment charge)?
Thanks

sinizterguy

I very much doubt they're going to question where your funds came from.

But, if it isn't dodgy, just show them where it came from if it comes to it ... Which is unlikely.

bexster1975

Hi

I have been overpaying with halifax for 4 years at 500 pounds per month and have made a couple of lump sum overpayments. Should finish mortgage when I'm 40 (approx 12 months time). I am alone doing it, but have never been questioned. As previous poster says, if it's questioned and you feel it's appropriate, prove it's not "dodgy". They will care because they wil get less interest but how you allocate your funds is your business


Good luck to you

Bexster

Andrewboom

I had a maximum over payment amount on my HSBC fixed mortgage it was something like 20% a month, so just check you don't have anything like that in place.

thebritishbloke

Lots of people overpay on their mortgages, you're just lucky to have one that has no early repayment charges (are you sure it isn't capped at 10% a month?)

So long as the money was legally obtained, there won't be a problem.

geeka

Thanks everyone for the info, I got myself out of a mess don't want to land myself in trouble with getting caught out!
heres to being mortgage free by 44! then i can work part time!